LINKBANCORP (NASDAQ:LNKB) Now Covered by Hovde Group

Hovde Group initiated coverage on shares of LINKBANCORP (NASDAQ:LNKB) in a research report report published on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $8.50 price target on the stock.

Separately, DA Davidson reiterated a “buy” rating and set a $9.00 target price on shares of LINKBANCORP in a research report on Thursday, January 30th.

LINKBANCORP Price Performance

Shares of NASDAQ:LNKB opened at $6.75 on Tuesday. The company’s 50-day moving average is $7.15 and its 200 day moving average is $7.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. LINKBANCORP has a fifty-two week low of $5.86 and a fifty-two week high of $7.98. The company has a market capitalization of $252.25 million, a P/E ratio of 9.64 and a beta of 0.37.

LINKBANCORP (NASDAQ:LNKB) last issued its earnings results on Monday, January 27th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. LINKBANCORP had a net margin of 15.64% and a return on equity of 9.89%. On average, equities research analysts forecast that LINKBANCORP will post 0.84 earnings per share for the current year.

LINKBANCORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, February 28th. LINKBANCORP’s payout ratio is presently 42.86%.

Institutional Investors Weigh In On LINKBANCORP

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of LINKBANCORP by 13.7% in the third quarter. Geode Capital Management LLC now owns 562,775 shares of the company’s stock worth $3,608,000 after acquiring an additional 67,728 shares during the last quarter. State Street Corp boosted its stake in LINKBANCORP by 5.5% in the 3rd quarter. State Street Corp now owns 283,891 shares of the company’s stock worth $1,820,000 after purchasing an additional 14,730 shares in the last quarter. Barclays PLC boosted its stake in LINKBANCORP by 53.0% in the 3rd quarter. Barclays PLC now owns 39,897 shares of the company’s stock worth $257,000 after purchasing an additional 13,818 shares in the last quarter. Enhancing Capital LLC purchased a new stake in LINKBANCORP during the 4th quarter valued at about $876,000. Finally, JPMorgan Chase & Co. increased its stake in LINKBANCORP by 133.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,788 shares of the company’s stock valued at $191,000 after purchasing an additional 17,011 shares in the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

LINKBANCORP Company Profile

LINKBANCORP, Inc operates as a bank holding company for The Gratz Bank, that provides various banking products and services to individuals, families, nonprofit, and business customers in Pennsylvania. Its deposit products include demand, saving, and money market accounts, as well as certificates of deposits.